ASCE vs. AFSC

Last updated Aug 4, 2026

ASCE (Allspring SMID Core ETF) and AFSC (abrdn Focused U.S. Small Cap Active ETF) are both Small Cap Blend Equities funds. Both are actively managed. Over the past year, ASCE returned 43.18% vs 36.86% for AFSC. Their correlation of 0.88 means they have usually moved in the same direction. ASCE charges 0.38%/yr vs 0.65%/yr for AFSC.

Performance

ASCE vs. AFSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring SMID Core ETF (ASCE) and abrdn Focused U.S. Small Cap Active ETF (AFSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASCE achieves a 29.71% return, which is significantly higher than AFSC's 27.17% return.

ASCE

• 1D: 2.05%
• 1M: 1.84%
• 6M: 22.15%
• YTD: 29.71%
• 1Y: 43.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 37.55%

AFSC

• 1D: 1.58%
• 1M: 0.81%
• 6M: 20.18%
• YTD: 27.17%
• 1Y: 36.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AFSC abrdn Focused U.S. Small Cap Active ETF	$12.10K	$13.32K	$13.82K
ASCE Allspring SMID Core ETF	$5.35M	$3.61M	$2.13M

ASCE vs. AFSC - Yearly Performance Comparison

	2026 (YTD)	2025
ASCE Allspring SMID Core ETF	29.71%	8.46%
AFSC abrdn Focused U.S. Small Cap Active ETF	27.17%	5.74%

Correlation

The correlation between ASCE and AFSC is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.88

The correlation between ASCE and AFSC has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

Return for Risk

ASCE vs. AFSC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ASCE

ASCE Risk / Return Rank: 86
ASCE Sharpe Ratio Rank: 86
ASCE Sortino Ratio Rank: 86
ASCE Omega Ratio Rank: 79
ASCE Calmar Ratio Rank: 93
ASCE Martin Ratio Rank: 88

AFSC

AFSC Risk / Return Rank: 79
AFSC Sharpe Ratio Rank: 77
AFSC Sortino Ratio Rank: 78
AFSC Omega Ratio Rank: 69
AFSC Calmar Ratio Rank: 86
AFSC Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ASCE vs. AFSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring SMID Core ETF (ASCE) and abrdn Focused U.S. Small Cap Active ETF (AFSC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ASCE	AFSC	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.94	+0.23
Sortino ratio: Return per unit of downside risk	3.12	2.76	+0.36
Omega ratio: Gain probability vs. loss probability	1.36	1.32	+0.04
Calmar ratio: Return relative to maximum drawdown	4.71	3.60	+1.11
Martin ratio: Return relative to average drawdown	14.18	13.14	+1.03

ASCE vs. AFSC - Sharpe Ratio Comparison

The current ASCE Sharpe Ratio is 2.17, which is comparable to the AFSC Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of ASCE and AFSC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASCE vs. AFSC - Drawdown Comparison

The maximum ASCE drawdown since its inception was -9.22%, smaller than the maximum AFSC drawdown of -21.93%. Use the drawdown chart below to compare losses from any high point for ASCE and AFSC.

Drawdown Indicators

	ASCE	AFSC	Difference
Max Drawdown Largest peak-to-trough decline	-9.22%	-21.93%	+12.71%
Max Drawdown (1Y) Largest decline over 1 year	-9.22%	-10.29%	+1.07%
Current Drawdown Current decline from peak	-1.19%	-1.49%	+0.30%
Average Drawdown Average peak-to-trough decline	-2.11%	-4.00%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.81%	+0.24%

Volatility

ASCE vs. AFSC - Volatility Comparison

Allspring SMID Core ETF (ASCE) has a higher volatility of 5.78% compared to abrdn Focused U.S. Small Cap Active ETF (AFSC) at 4.67%. This indicates that ASCE's price experiences larger fluctuations and is considered to be riskier than AFSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASCE	AFSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	4.67%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	15.28%	14.57%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.99%	19.11%	+0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.68%	22.09%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	22.09%	-2.41%

ASCE vs. AFSC - Expense Ratio Comparison

ASCE has a 0.38% expense ratio, which is lower than AFSC's 0.65% expense ratio.

Dividends

ASCE vs. AFSC - Dividend Comparison

ASCE's dividend yield for the trailing twelve months is around 0.17%, more than AFSC's 0.06% yield.

Position	TTM	2025
AFSC abrdn Focused U.S. Small Cap Active ETF	0.06%	0.08%
ASCE Allspring SMID Core ETF	0.17%	0.22%

Frequently Asked Questions

Can I hold both ASCE and AFSC in my portfolio?

ASCE and AFSC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASCE or AFSC?

ASCE has higher volatility (5.78%) compared to AFSC (4.67%). In terms of maximum drawdown, ASCE dropped -9.22% vs AFSC's -21.93%.

Which ETF is better, ASCE or AFSC?

On 1-year performance, ASCE leads with 43.18% vs 36.86% for AFSC. On fees, ASCE is cheaper at 0.38% per year. On volatility, AFSC has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASCE or AFSC?

Over the 1-year period, ASCE has performed better with a 43.18% return vs 36.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASCE or AFSC?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.65% for AFSC.

Which ETF pays a higher dividend yield, ASCE or AFSC?

ASCE has the higher dividend yield at 0.17%, compared with 0.06% for AFSC.

What is the main difference between ASCE and AFSC?

They also come from different issuers: Allspring and Aberdeen. Their fees differ too: 0.38% for ASCE and 0.65% for AFSC.

Which has better risk-adjusted returns?

ASCE currently has the higher Sharpe Ratio (2.17 vs 1.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.